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PEN - Peninsula Energy

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Japan's Engineering and Construction skills demonstrated by its willingness to rebuilt up the nuke plant is now well published.
http://www.google.com/hostednews/ap...cmkPuA?docId=d172d5b5364c46419f2ab55786382aa8
http://www.nei.org/keyissues/protectingtheenvironment/cleanair/
Some past time reading before we reject PEN, TOE, PDN and like shares.
The emotion and lack of business logic will be still there like Wall Stree protesters but nuclear plant is going to be a requirement for mankind.
Love and affection is very important to be shown in the form of a diamond ring. That diamond ring needs to be financed by some one's hard earning. Both are required : Emotion like Greenies initiative and Hard Core investment like PEN and other companies.

Every one has an opinion and I am making my opinion based on my research. Yes there will be an other side of the coin but both are required to make a coin a real one and not a fake one

I still believe there will be a turnaround for PEN - well time is a test and patience is virtue Until then PEN share certificate will be in the bottom drawer for me.
 
Chalea;662862 8th-October-2011 10:32 PM said:
The weekly chart shows a bearish continuation rectangle pattern.
Using the previously successful measuring method, (click here), the same "2.0c approximate target" is shown...
View attachment 44834
Click to expand...
Bearish continuation rectangle support broken

Measured move target = 3.6 - (5.0 - 3.6) = 2.2c

Click chart


 
Chalea said:
Daily chart's rectangle measured move confirms weekly chart target of 2.2c

View attachment 45519

View attachment 45520
Click to expand...

You say that " best breaks to the downside occur on average volume, only to see volume ramp up as the stock falls ".

Only that's hardly true of todays candle and volume, as can be seen it was obviously bought up, not saying that your 2.2 cents target won't be eventually hit, only in my humble oppinion your analysis of todays action is wrong..

Might have a go at this tomorrow, depending....!

Then again there are no certainties and tomorrow is another day...
 

That is not my analysis, it comes from here, and it describes beautifully the volume action since price knifed through 3.6c support.

Emphasis on the word KNIFED. This stock is a falling knife...

FYI it's common for support to be found at whole numbers. Expect 3.0 to be hit a couple of more times before it too becomes resistance like 7.0 and 6.0 and 5.0 and 4.0 before it...

If you want to try your luck at a quick swing trade be my guest, but you've probably missed half the action!

:bananasmi
 
I got out at .037 the day after I hit .036. The market was strong but it didn't bounce nearly as much as I hoped it would. May ha e another crack at .029
 
notting said:
I got out at .037 the day after I hit .036. The market was strong but it didn't bounce nearly as much as I hoped it would. May ha e another crack at .029
Click to expand...

When/if it cracks 3.0c again the very short term target = 3.0 - (3.2 - 3.0) = 2.8c

Bull target = 3.4c (you never know your luck in a big city...)



 
Chalea said:
That is not my analysis, it comes from here, and it describes beautifully the volume action since price knifed through 3.6c support.

:bananasmi
Click to expand...

In theory, the analysis is correct, but your use of it here is flawed..

The analysis assumes that volume increases because sellers overwhelm buyers, but that was not the case yesterday, it was the other way around.

Note on this 10 day hourly chart, the volume spikes are on up bars at support levels, suggesting that scalpers are all over this, and as soon as it breaks under that same support volume increases slightly as stops are hit and the scalpers bail...
 

Attachments

  • Pen - 10 day hourly chart.gif
    16.9 KB · Views: 126

Dear namrog

What colour was yesterday's volume bar???

Next you'll be using the phrase 'Smart Money'

 
Chalea said:
Dear namrog

What colour was yesterday's volume bar???

Next you'll be using the phrase 'Smart Money'

View attachment 45526
Click to expand...

The volume bar colour says nothing, it's an open v close aid ...

Have a close look at your own chart and what did the colour of the volume bars show going forward ? ------nothing...!!

Look , PEN will more than likely keep on falling, which has more to do with general market weakness than anything company specific, so when the market rises PEN will lift with it, and the same obvious technical signals will likely appear in share and index charts across the board...

In the meantime there is a low R/R possibility of a trade at 3 cents.

There is no suggestion that this is the bottom ...
 
namrog said:
The volume bar colour says nothing, it's an open v close aid ...
Click to expand...

It tells me the day was bearish yet you seem to think it was a bullish reversal candle yesterday. Today's action says no...:bananasmi

Have a close look at your own chart and what did the colour of the volume bars show going forward ? ------nothing...!!
Click to expand...

My volume bars showed decreasing price on increasing volume...


Sounds like wishful thinking...:nono:

In the meantime there is a low R/R possibility of a trade at 3 cents.
Click to expand...

What sell price, 3.2c? Each to their own...:sleeping:

There is no suggestion that this is the bottom ...
Click to expand...

:iagree:
 
144,690 at 3.1c
37,440 at 3c
says not much selling going on at 3c, even with 2.7 million shares ready to be baught.
 
notting said:
144,690 at 3.1c
37,440 at 3c
says not much selling going on at 3c, even with 2.7 million shares ready to be baught.
Click to expand...

3.0c is support for now.
2.0c will be support in the not to distant future.

DFS is months away...
 
Karlos68 said:
Buddy.......mate.......new best friend....Your dedication and commitment to enlightening the good folk on this forum appears to be weakening.:sleeping:

Does this mean........ the uptrend upon usartyman:
Click to expand...

Nearly Karlos...

This chart shows the long term uptrend line

Current support @ 1.5c

Click chart


:chimney
 
Chalea said:
3.0c is support for now.
2.0c will be support in the not to distant future.

DFS is months away...
Click to expand...
I never thought I would admit this but...."I have some respect for you Chalea"

I sold my holdings of PEN at 12.5 cents early this year.......
I recall from a master of trading that buying into a share is best using the weekly as it eliminates the market noise. Fuku was severe market noise. ............I used the Daily and brought back in at average 10 cent about a week after Fuku. ....Your mention of this trading advice a while back made me recall the advice of an expert. While I did not admit at the time it has shown your wise application of this advice have proven to be a safe trading practice.

My long term A, B, C trendlines have also broken downwards. I will still hold but I do congradulate yourself as my average charting ability to analyze charts has proven to be of a lower calibre than yourself......

Merry Xmas:alcohol:
 

I'll say no more for now Chalea, it seems you have your mind made up that the pattern will repeat to the cent, It might or might not, so I hope it's not closed to the possibilities. :screwy:
 
Karlos68 said:
I never thought I would admit this but...
Click to expand...

Karlos, I never thought I would admit this but..."I hope this stock turns around in the future so that you don't lose money on it"

Merry Christmas and a Happy New Year to you and yours!

:wreath:wreath:wreath
 
namrog said:
I'll say no more for now Chalea, it seems you have your mind made up that the pattern will repeat to the cent, It might or might not, so I hope it's not closed to the possibilities. :screwy:
Click to expand...

No closed mind here, recheck my post and hourly chart.

2.8c OR 3.4c "very short term target"

:horse:
 
Chalea said:
Daily chart's rectangle measured move confirms weekly chart target of 2.2c

View attachment 45519

View attachment 45520
Click to expand...

Your logic is spot on except for the splitting of the highs and lows (top line from the high to the low)
If you take the low to the low in this evaluation it is equal to a 1 cent drop.
so taking this on board the next drop should be another 1 cent drop from low to low.
Hence my buy at .026 not .022
See what happens i suppose.


DYOR
 
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